Nuplex Industries (NPX)

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Nuplex
Industries are up 9 per cent over the past week after the resins and speciality chemicals manufacturer agreed to acquire the goodwill of the Australian and New Zealand ingredients business of the Med-Chem group of companies for an undisclosed sum. Nuplex said the transaction, effective from last Friday, was expected to lift the earnings of Nuplex’s specialities business by more than 15 per cent in the first 12 months. The company last month increased its forecast for full-year earnings before interest, taxes, depreciation and amortisation after a solid start to the second half. It expects record earnings of between $NZ125 million ($97 million) and $NZ135 million and earnings per share of between NZ30¢ and NZ36¢. Nuplex shares have risen 127.9 per cent over the past 12 months.